14% unemployment (-v- 20% in Spain), Ireland still has one of the highest GDP per capita with an average of $45,688. Cutbacks in the right area's which should have been done years ago, be carefull in suggesting all property is down by ''50-60%'' when that only accurred in towns such as Adamstown etc.. most citys lost between 20-30% relative to the UK during late 2008 i might add. 300,000 to 350,000 are in negative equity, with an estimated 20,000 to 35,000 struggling to pay mortgages, struggling to live is a MASSIVE overstatement something which i would come to expect from a non-national, with one of the highest doll payments in Europe defaulting on the breadline is rare and those people are looked after by different ngo's. Be carefull the next time you splash out the facts you think you know the next time racedo.
GDP per capita mean jack sugar as you can't spend it and quite a significant proprtion of Irish GDP is as a result of the Irish Govt policy to attract FDI and setting up of Headquarters in Ireland.
As for Spanish Unemployment the historic rate over last 25 years has rarely been less than 10% and never below 8% for any period of time so comparing a rise from 8% to 20% against a rise in Ireland from 4% to 14 % is way different.
As for 300-350k in negative equity that is a massive proportion of housing stock.
There is also a significant difference between the 2 countries as there is not a significant number of Spanish people as a proprtion of the total population who fly abroad V Ireland as inbound tourism is the norm in Spain.
I go on Irish CSO stats on house prices which show that on their index in 2007 was 130 now its 71 or a fall of 55%, so much for the small drop in Adamstown
.
As for UK prices, well as use property investment as a way to ensure I will have a decent pension when I retire I can assure you that 55% decline in UK not an average nor anywhere even close....................wish it was as buy regularly. Nationwide HPI show 11% from 2007 to 2011, some regions a bit higher .
If Ireland was doing so well then IMF wouldn't be a regular visitor each month.